Tale Of Two 21 Peace Dollars

I have a set of Peace dollars and wanted to upgrade my 1921. Dollar #1 is the example in my book.... Last week I purchased Dollar #2. Admittedly, I am a guy that gets starstruck when he buys a new coin and I am currently having a meaningful affair with Dollar #2 so I know my view is jaded.

I am questioning myself whether or not dollar #2 should go in my book as originally planned. Or does it merit going into a slab?

Dollar #1




Dollar #2

 

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#2 is a much better coin in a higher grade. From what I can see in your photos I wouldn't see in for grading. I bit too much wear to slab her but she should go in the book. I don't know what kind of book or grading exist in your book but that is where I'd put her.

Your initial thought was why you bought her. Now, you're having second thoughts. Go with your original thought.

 

Nice coins! if I were you I would keep dollar 1 in the book and send dollar 2 to get it slabbed ! Even in au condition, 21 peace dollars can fetch a lot of money and that is something you might want to have verified. Let me know what you do.

 

I can't tell from these photos whether there's wear on #2 or not. Those flat spots in the hair and on the wing are present in most MS specimens as well; they're strike weakness resulting from the coin's high relief.

How is the luster in-hand? In these images I can't see it; I'd worry that the coin's been polished, but I don't see any halos around the devices. It's easy to hide luster in photos.

 

Noah makes a nice argument but I must disagree. An AU 2921 graded Peace Dollar is going for about $225. While a MD-64 is down from $1000 to a low of $800. Peace Dollars have been dropping in price, unfortunately. I am 2 coins short of a full PCGS MS-64 or better set. They are common date coins. I also have 3 full sets of lower grade Peace Dollars.

I would grade coin #1 in fine condition. Coin #2 I would say is extremely fine maybe even a borderline AU-50 but that all depends on the Mint luster which I can't see in the photo.

Remember, 1921's are notorious for weak strikes. It is very difficult to find a well struck one. Just over a million were minted and in a very short time in late December. They were released for circulation on January 3, 1922.

 

I am having some issue with the luster as well. But I own some dollars that don’t display cartwheeling luster but are still straight graded. I am having lunch with my dealer buddy today and I am going to get his take on it. I know I am currently starstruck with this lady. My dealer buddy will shoot straight with me. I’ll report what he has to say.

 

Can't wait to hear! Have an enjoyable lunch.

 

Oh it will be. When he wants to have lunch I know that means he has something in his pocket that will likely make my pocket much lighter!

 

Now that's funny!

I love Peace Dollars. The full set is easily affordable for most people. Even a high grade set can be obtained. It's a shame the market price is dropping on them.

You should check out the PCGS price guide on them. It will make you cry if you bought them a few years ago like I did. At least I have no plans to sell anytime in the future. I'm still looking for the 2 I need to complete my set.

Last year at the Gettysburg show I found both of them, perfect in every way for my collection. The dealer wanted $800 a piece and the price at that time was $600 each. I just walked away. They are now down to the $550 range. The dealer bought them high and was trying to recover his costs. I get that but it won't be at my expense. I would have bought them at $600. I'll find them one day.

 

Yes you will

 

This is a bit Off Topic, but I noticed that the slide covering the obverse of the '21-S in your album does not cover the entire coin. Aren't you concerned that the edge of the slide might scratch one of the coins when you remove it?

Chris

 

I am now! I hadn’t noticed before. That will be corrected. Thanks.

 

Verdict is in. She is a cleaned 21. So being the simple sort of collector that I am, it will replace the 21 in my book as originally planned.

 

Sorry to hear that she has been cleaned. It doesn't look to be a bad cleaning but at least the condition is above your existing coin.

 

That’s a good way to be, Randy!

 

I forgot to ask, what coin did he have for you to preview while at lunch?

 

Sorry to hear. I believed it was clean when I saw it. Shame.

 

He had shoulder surgery last month and I had one of those icing machines that I gave him to use. Reason for the lunch was he wanted to thank me..... However he did have a gorgeous 1796 dime in his pocket that I will Be dreaming about tonight. My pockets weren’t quite that deep today.

 

LOL Sorry Randy but that's all I can do. It's happened to me many a times.

 

Yeah, both coins are cleaned. I would put #2 in the album and sell #1, as it is still an upgrade.